Private economy thrives in Guiyang and Guian

In recent years, Guiyang City and Guian New Area in Southwest China's Guizhou province have made unwavering efforts to boost the development of the private economy.

Guiyang and Guian issued a series of implementation plans, providing comprehensive policy support for the creation of a first-class business environment.

Guiyang and Guian have also established a fully-digitalized transaction system. "Guishangyi" has been upgraded to become the province's comprehensive enterprise service platform, providing services including policy guidance, government assistance, funding support, market exploration, service facilitation, talent recruitment, and factory location assistance to 4 million market entities across the province.

As of the end of 2022, a total of 225,800 market entities in Guiyang and Guian had registered on and utilized "Guishangyi".

Guiyang and Guian have ranked first for four consecutive years, from 2019 to 2022, in the assessment of the business environment in Guizhou province. As of the end of June this year, the total number of market entities in Guiyang and Guian had exceeded 1.04 million, ranking first in the province. Among them, private entities accounted for 99.64 percent, representing 23 percent of all private entities in the province.

In addition, the leaders of Guiyang and Guian regularly conducted activities such as visits, condolences, and discussions to find ways to help companies and address their difficulties. Last March, they visited over 700 companies and assisted them in resolving 113 problems.

As just one example, Guiyang Jingyi Technology Co, located in Wudang district in Guiyang, owns 18 patents, including 3 invention patents. Despite having numerous production technologies, some products could not be mass-produced in the past due to limitations in factory size.

After learning about the company's situation, the district reviewed relevant policies and provided support to the company's Phase II project in terms of funding, technology, and other aspects.

Upon completion and operation of the Phase II project, the company will be able to produce 18 types of high-purity semiconductor materials, some of which have never before been produced in China. The estimated output value is expected to increase from the current 20 million yuan ($2,79 million) to 200 million yuan.

In 2022, the city's private enterprises above the designate size achieved a total operating income of 386.43 billion yuan, a year-on-year increase of 9 percent.

Private enterprises also actively contribute to the development of Guiyang and Guian. At a job fair held on April 13 of this year, 172 private companies offered 4,886 jobs in various industries, providing opportunities for university and college graduates to find employment and live in Guiyang and Guian.

During the COVID-19 pandemic, more than 5,000 people from various chambers of commerce and private enterprises in the city participated in volunteer services. Over 50 chambers of commerce and 220 private enterprises collectively donated 3,69 million masks, 95,900 sets of protective suits, and 3.94 million yuan in funds, as well as essential supplies like grain, rice, fruit, vegetables, and other necessities, worth approximately 35.79 million yuan.